John McAfee, the founder of McAfee anti-virus program and this year’s presidential candidate running with the Libertarian Party has criticized Bitcoin for being “too complex for the Average Individual.” and advised people to be cautious when using bitcoin.“Here’s the problem with Bitcoin; it’s just like any emerging technology.The technology here isn’t Bitcoin, it’s digital currency.And with any emerging technology, the first few attempts are gonna have some problems.Now, you cannot deny that hundreds of millions of dollars have disappeared for various reasons with Bitcoin users,” Mcafee.Despite his asceticism towards bitcoin as an independent currency, McAfee believes that digitalized forms of money will replace current fiat-based financial systems.However, he thinks that bitcoin will not be one of them.“ It is number one, too complex for the average individual.The blockchain mining of coins is becoming increasingly expensive… We can talk forever about the intricate technical problems or lack of such.

But from my personal opinion, I do not think the electronic currency will be Bitcoin.I’m close friends with Ron Pierce, he’s one of the biggest enthusiasts of Bitcoin.Honestly, in private conversations with Ron, we get the same thing.There will be an electronic currency, that I promise you.And if it’s Bitcoin, great.I just don’t think it will be.” One main concept of Bitcoin which the general population fail to embrace is its decentralized and transparent nature.The Bitcoin blockchain network, a peer to peer network is secured and maintained by millions of miners around the world.Which means, the network does not require the existence of central authorities or third party applications and mediators to revoke, restrict and alter transactions or activities on the network.Individuals like McAfee, with a superficial understanding of cryptocurrencies like Bitcoin fail to understand how a cryptographic algorithms operate and are utilized to provide a certain level of security which fiat-based or centralized application simply cannot.

Because traditional financial instruments and applications offer administrative abilities to authorities and capabilities to alter and change data on the network, it inevitably fall victim to various hacking attacks and data breaches.Despite the limitations of such financial technologies, McAfee still argues that there are many unresolved technological issues with Bitcoin.“There are tremendous technology problems with bitcoin,” McAfee There are tremendous infrastructure problems.The number of people who lost money by wallets that have simply disappeared, by trusting companies is legion.Without considering the technological limitations of these wallet platforms and their security holes, McAfee instead directly criticized the Bitcoin network for the loss and theft of bitcoins which occurred in independent bitcoin platforms like Mt.Over the past few years, people have lost millions of dollars in exchanges and wallets which had faulty systems and poor security protocols.Gox had a centralized server where the exchange kept bitcoins themselves, which today is known to be an extremely vulnerable bitcoin operation.

While politicians and tech gurus like McAfee still believe bitcoin is not viable as a currency, the virtual money ended 2015 as the best performing currency of the year, and was the only currency / asset which wasn’t affected by the rising interest rates of the United States.bitcoin best payout methodJoin our Telegram Channel!bitcoin stealer 2015Get Bitcoin News stories in Telegram × Dismissnakamoto bitcoin addressBitcoin is a digital asset and payment system with approximately $9.1 billion in global circulation as of August 2016.ethereal blade lionIt is considered by many to be the most successful and game-changing crypto currency ever created.bitcoin keychain

Last week, Bitcoin Value crossed all time high $1,500 mark on May 4, 2017 and it has remained above this mark till Sunday.The latest hike in the Bitcoin Value has attracted a lot of traders and investors buying and selling Bitcoin in India.bitcoin clone php scriptBut, if you are looking out to invest in this currency, you need to consider the best options available in India.most influential bitcoinHere are the top 4 Bitcoin exchanges in India where you can buy, sell, transfer and invest.bitcoin miner widgetStarted in 2013, Unocoin is a Bangalore based technology startup which operates India’s largest BTC-INR trading platform which enables Indians to buy, sell, store, use and accept bitcoin.ethereum ether news

Every month, Unocoin processes transactions worth more than INR 250M for its 210,000+ customers.In FAQs mentioned in their website, Unocoin states that - As all transactions occur between bank accounts, it is a self-regulatory requirement for us to know the sender/ recipient within a transaction.To comply with KYC/ AML regulation and to protect users from illegal activities we are required to collect a copy of your PAN card.It uniquely identifies you as an individual or institution performing a particular transaction.When filling out your profile, please ensure your name should match the one on your PAN card.In just 3 years since inception, the company has drawn more than 30 top investors from 5 countries.Unocoin is responsible for industry leading innovations such as the Bitcoin Systematic Buying Plan(SBP), Bitcoin Point of Sale (POS) App and Bitcoin Over-The- Counter trading (OTC).In April 2017, Unocoin announced its partnership with PayUbiz, a leading payment gateway, to facilitate Unocoin users in buying Bitcoin using the net banking feature.

Set to simplify the entire process of buying Bitcoin, the feature is live on Unocoin.Zebpay has been involved in bitcoins since its early days in 2011.Claiming to have started India’s first bitcoin exchange in 2012, Zebpay guarantees fast transaction processing and the best bitcoin rates.The company states in its website, - Your KYC details are essentials for us to maintain your Zebpay account.This is to secure your bitcoins in you Zebpay account.After 7 May '17, only KYC verified accounts will be able to use Zebpay, even to send, receive or store bitcoins, recharge airtime or buy vouchers.Please verify account now.SearchTrade is a search engine company which uses bitcoins to pay users every time they search on the platform.They also allow users to 'own ' keywords which earn income for them every time the words are used as part of a search query by any person worldwide.The Singapore-based startup, SearchTrade, has introduced a system to allow all parties in the Internet search engine process – the searcher, the owner of the key word being searched, the builder of the app using the search engine, and the advertisers – to profit from the process using bitcoin.

Using bitcoin, the system redistributes the revenue among the stakeholders in the process, rather than allowing all the profit to flow to the big search engines like Google and Bing.Founded in July 2014, Coinsecure is registered as Secure Bitcoin Traders Pvt.An ISO certified company, Coinsecure offers Bitcoin wallet, exchange, trading and merchant services along with other Blockchain based services.Blockchain consists of data structure blocks that maintain the transaction records against tempering and revision.The company has its Head Office in Delhi and the Research and Development division in Bangalore.The company launched a Bitcoin exchange on January 1, 2015.Coinsecure offers an algorithmic trading Bitcoin exchange, a Blockchain explorer, free APIs for all their products, a mock trading platform for users to try trading without real money and On-Chain and Off-Chain wallet services.The company now consistently handles over 3,000 BTCs a month in terms of volume.Bitcoin start-ups Zebpay, Unocoin, Coinsecure and Searchtrade jointly launched Digital Asset and Blockchain Foundation of India (DABFI) for the orderly and transparent growth of virtual currency market.